April 18 (Reuters) - Australian shares are expected to inch lower on Tuesday after a long Easter weekend as commodity prices took a beating on worries over a supply glut.
Steel and iron ore prices extended losses, after China produced record steel volume in March, stirring concerns about a supply glut. IRONORE/
Crude oil prices fell on news of rising U.S. shale production and profit taking following three straight weeks of gains. O/R
The local share price index futures YAPcm1 fell 15 points, or 0.3 percent, to 5852, a 37.95-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark fell 0.8 percent on Thursday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 was flat in early trade.
For a summary of overnight action across global markets, double click on AU/CALL
For a digest of the day's business stories in Australian newspapers, double click on PRESS/AUB